Private credit rises as banks retreat from real estate lending

Andrew Radkiewicz, global head of private debt strategy and investor solutions at PGIM Real Estate. Photo: PGIM.
Andrew Radkiewicz, global head of private debt strategy and investor solutions at PGIM Real Estate. Photo: PGIM.
European banks are scaling back commercial real estate lending on the back of tighter capital requirements under the ‘Basel III’ rules. The retreat has opened the door for private credit funds to move deeper into property finance.
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